| Vocabulary |
Definintion |
Clue to Remember It |
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| 1. Which wants are influenced by friends and social status? |
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| 2. What are the three factors of economic production? |
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| 3. Identify the factors of production in a local bakery. |
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| 4. Choose an object that you want, such as a CD. Describe the steps that are part of the want-satisfaction chain. |
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| 5. How can Josh satisfy both of his wants? |
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| 6. How does the concept of scarcity apply to Josh's situation? |